I stay 100% invested in equities. Only exceptions are new cash that I deposit (build up to make next purchase) or dividends that I receive as cash (I only DRIP certain companies, maybe 50% of my holdings).

All in, 100% for stocks and some closed end funds.
Plus 100% in savings waiting next to the empty shopping list.
But then ... David Crosetti just reminded me, that Asset Allocation is more than stocks and bonds.
For our family there is a membership in a cooperative, metals (physical), one rental property, the goverments pension-ponzi scheme, the house we live in, etc ... in sum about the same as the virtual worth (goodwill?) we once paid for our family business and may not get back at retirement. My wife uses to say that we are financial independend until we stop serving our customers.